The purpose of this dissertation is to find the key factors of web site which influence customer value. Through literature review, we find the role of web site from a marketing perspective is a medium of marketing, enhancing the marketing mix and endowing the marketing mix with new features; we also find that customer value is a comparison of benefit and cost, having both psychic value and utility value and covering the whole customer activity. On base of these, we identify eight factors of web site which, we hypothesize, influence customer value: Attractiveness, Ease of use, Accuracy, Customization, Responsiveness, Community, Comparison and Assurance. Then a survey with questionnaire method was employed. As to the design and analysis of the questionnaire, the Kano model was used. The result of our survey showed that seven factors of web site - Assurance, Ease of use, Accuracy, Responsiveness, Customization, Attractiveness and Comparison, have positive influence to customer value while Factor of Community, has little influence to customer value. In addition, we introduced Importance index and Indifference index to evaluate influence during analyzing; under this way, we proved the validity and reliability of our investigation.